In this edition:
- Canada imposes retaliatory tariffs on 700 U.S. products, unveils $7.5-billion support package
- Canadian exporters delay shipments as 50 per cent U.S. tariffs create immediate cash-flow pressures
- Ontario expands $1-billion financing program to businesses hit by new U.S. tariffs
- St. Catharines opens consultation on Community Improvement Plan for strategic sites
- Canadian corporate profits jump 9.7 per cent in second quarter
- Canada’s housing-start pace falls five per cent in July
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Picture credit: JJ Gouin / Adobe Stock
Canada imposes retaliatory tariffs on 700 U.S. products, unveils $7.5-billion support package
Canada announced retaliatory tariffs covering roughly 700 U.S. products in response to new American trade measures, while unveiling $7.5 billion in support for affected businesses and workers.
The measures significantly broaden Canada’s response to escalating trade tensions, targeting a wide range of U.S. imports while providing financing and other assistance intended to help Canadian companies manage tariff-related costs, disrupted trade and mounting financial pressures.
Picture credit: Виталий Сова / Adobe Stock
Canadian exporters delay shipments as 50 per cent U.S. tariffs create immediate cash-flow pressures
Canadian exporters are delaying some U.S.-bound shipments as businesses assess how to manage significantly higher duties resulting from new American tariffs.
Customs brokers report manufacturers facing thousands of dollars in additional costs on individual shipments, creating immediate cash-flow and pricing challenges. Some companies are holding shipments while determining whether additional costs can be absorbed, passed on to customers or otherwise financed as businesses adjust their cross-border operations to the new tariff environment.
Picture credit: phonlamaiphoto / Adobe Stock
Ontario expands $1-billion financing program to businesses hit by new U.S. tariffs
Ontario is expanding eligibility for its $1 billion Protect Ontario Financing Program to businesses affected by the latest U.S. tariffs. The program previously focused on companies affected by tariffs on steel, aluminum, copper and automobiles and will now include businesses affected by the new Section 338 measures.
Eligible companies can access financing to address working-capital pressures and expenses including payroll, leases and utilities as they manage the financial effects of changing U.S. trade measures.
Picture credit: City of St. Catharines
St. Catharines opens consultation on Community Improvement Plan for strategic sites
The City of St. Catharines is proposing creating a site-specific Community Improvement Plan (CIP) to support the long-term remediation and redevelopment of large, underutilized and vacant properties.
City Council is hosting a public meeting on September 14, 2026 to receive input and comments on the proposed 2026 CIP update, after which Council will consider approval of the Plan.
Picture credit: ronniechua / Adobe Stock
Canadian corporate profits jump 9.7 per cent in second quarter
Canadian corporations recorded $228.2 billion in operating profit during the second quarter, an increase of $20.1 billion, or 9.7 per cent, from the previous quarter, according to Statistics Canada.
Operating profits were also 15 per cent higher than during the same period last year. Thirty-two of 39 non-financial industries reported quarterly increases, indicating that profit growth was spread across much of the economy rather than being concentrated in only a small number of industries.
Picture credit: ungvar / Adobe Stock
Canada’s housing-start pace falls five per cent in July
Canada’s seasonally adjusted annual rate of housing starts declined five per cent in July to 229,074 units, down from 240,773 in June, according to Canada Mortgage and Housing Corporation.
Actual housing starts in urban centres were 19 per cent lower than in July 2025. At the same time, the number of housing units that have received permits but have not yet begun construction increased, adding to the pipeline of approved but un-started residential development.
Through the Daily Updates, the GNCC aims to deliver important business news in a timely manner. We disseminate all news and information we feel will be important to businesses. Inclusion in the Daily Update is not an endorsement by the GNCC.
